AppleCare gives you three years. There's a reason Apple doesn't offer a four or five-year maintenance plan; after four or so years, hard drives head for senility or stroke. Our record is my wife's Mac two back, lasted for almost eight years, but the next one she got blew out at two. Still covered, fortunately.
I didn't get fancy, nor expensive. Got a replacement iMac, not many bells nor whistles. A bit faster, more memory and storage. Opted for the trackpad instead of the mouse. It's not as good at the iGesture, but it's not too far behind.
Half what I paid for my first computer, back in 1984, in those less-inflated dollars, and a million times bigger, faster, and stronger, at least.
Of course, transferring your files and programs from your old computer to your new one is a royal pain in the ass. They say it'll be a breeze, just hook 'em up and launch Migration Assistant, or Set-Up Assistant, port everything over, a snap.
Not really. First thing is, the old cables don't like the new machine. Firewire is kaput, the new kid is Thunderbolt, and I didn't get the hybrid wire, not realizing I needed one. So my nice back-up drive for Time Machine wouldn't connect to the new toy. Well, I could use ethernet, right?
Yep. Only once I launched it and let them run, it gave me a run time of eight hours ...
So, the next morning, I got to see what still worked. Most of it did, but there are always programs that die trying to make the crossing. One that was teetering on the old system doesn't have the juice to run on the new. Some programs that allow you to copy them a couple times decide that once is enough and won't open.
Mostly you can fix those. Upgrade the software, send an email to tech support and ask them for a workaround to copy a program.
The trick is to be sure to open everything you have to see if it will run. Otherwise, you might find out two months after you passed the old machine on to the kids for a game player or to watch YouTube, and too bad for you ...
Setting up the wireless Time Capsule is next, and I'll do that one at bedtime, because the first back-up will take at least another eight hours.